Published on 20 Jul 2024 on InvestorPlace · via Yahoo Finance
The financial services industry is one of the most essential sectors in the world, but it remains littered with legacy processes and barriers to digital transformation. However, emerging technology and the recent artificial intelligence (AI) boom have helped accelerate a fintech market full of potential.
Having recorded a value of $294.74 billion in 2023, the global fintech market is expected to reach $1.152 trillion by 2032, representing a compound annual growth rate (CAGR) of 16.5% during this period.